My realtor is reaching out to the listing agent but told me the seller may have restrictions (unclear what the restrictions are) on changing the contract now since they are doing a 1031 exchange.

I do have one house hacking client where I sold his condo and then helped him buy a larger townhouse where he can do forced appreciation through rehab (which worked out really well.)I went from a house hacking condo, used a HELOC and then did the FHA 203(k) to a house and built an ADU.Because of the rental restrictions, it might make sense to sell at some point since profits up to $250K is tax free and scale up that way. 

@Ryan Randall  talk to the fire marshall and get a copy from them of any local restrictions. 

The market has shifted in recent years, and many lenders have tightened their criteria due to increased risk and regulatory changes.However, I work with a network of private lenders who unsecured funding in the form of signature loans that borrowers often use for gap funding.

We don't have rent control, there are no restrictions when you renew a lease.

You could invest in housing near the refinery or buy a home you'd like to retire to...housing will tighten up in both sectors.  

I’m about to PCS to San Antonio for a year and was considering buying an investment property to live in while I’m there, then rent out after I leave.My question is this: since we’re restricted in getting fixer uppers with the VA loan (I know there are renovation loans), what are you looking for with the property?

Find out what the local regulations are and check the local paper if there are any restrictions being proposed for the area. 

Typically they have been restricted to Wall Street type products like stocks, bonds, and mutual funds.

However, if rent control is too restrictive, it will chase housing providers out of the city.